Japan Stocks Rise After Rocket Fails, Pare Gains on China GDP

Japanese stocks rose, with the Nikkei 225 (NKY) Stock Average rising the most in two weeks, after a North Korean rocket launch failed and Fast Retailing Co. forecast record profit. Shares pared gains as slower growth in China tempered optimism from a surge in new lending.

“It’s better to have it fail than succeed,” said Masahiko Ejiri, a senior fund manager in Tokyo at Mizuho Asset Management Co., which oversees $39 billion, speaking of North Korea’s unsuccessful rocket launch. “Even if they do build a nuclear weapon, it doesn’t matter if they can’t make it fly.”

NBAD targets organic growth in UAE, abroad
National Bank of Abu Dhabi (NBAD) is not interested in buying the Egypt retail business of Citigroup and is instead targeting organic growth in the country and globally, the bank's chief executive sa